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Show GENERAL. j The Bankers.' IV iul-l'. New York, 14. A paper was oflered, prepared by Edward L. Lewis Lew-is of Philadelphia, showing that prior to 1GG theBtate tax on bank shares was only three mills on a dollar, but in lSu'6 the state legislature enacted a law imposing a tax of 1 per cent, on national bank atock. The clearing hou.e took the caee belore Judge Ag-new, Ag-new, since chief justice, and he gave it as his opinon that the state act was iu conflict with the second section of article six of the constitution of the United States, and grauted an injunc tion. In 1809 the legislature again passed au act to tax national banKs 1 per cent, on bank stock, but the clearing clear-ing house again carried the case into court before Chief Justice Thompson, who decided the act was unauthorized, unauthor-ized, that the state could not tax banks more than three mills on the dollar, and again granted an injunction. injunc-tion. Subsequently the act was repealed. re-pealed. The paper then showed that Philadelphia was totally opposed to state taxation. The executive couusel then reported report-ed the following resolution, which was unanimously adopted: llesolvcd, That in the opinion ol this convention silver money as sub sidiary currency is desired by thu people, and that ils free but enforcec use will greatly aid in restoring the value of our paper money. In supporting this, Hayes of Da troit quoted and read the 20th verse. I chapter ix, of the Second Chronicles, and said it was the action of a wise man in those days. He thought some men had deteriorated since that time. The following resolution was also reported by the executive council as the embodiment of several referred to that body, and was unanimously adopted. Resolved, Aa the sense of this convention, con-vention, that the business of the country demands that the banking interests of the United States be 'e-lieved 'e-lieved from all taxation by the geu-eral geu-eral government, except the annual tax on their circulation to cover the expenses of the currency bureau, aud that taxation of bank Bhares by states be levied iu the same manner only and to the Bame extent, and subject to the Bame privileges and immunities, immun-ities, as other personal property. The executive council reported twelve new members of that body, including Mr. Christensen, ca.ihier of the Bank of Nevada, a' Sau Francisco, California. After the passage of several routine and complimentary resolutions, and a short address from the president, the convention adjourned sine die. |